We will be competitive with our rates.
We have a standard variable rate (SVR) that is significantly out of line with the rest of the market.From 14th May we are reducing the home loan to value (LTV) variable rate by 0.5% to 4.69%,meaning lower mortgage repayments in almost 74.500 homes nationwide.We will continue to review all of our rates at regular intervals to make them as competitive as possible.
After that admission, they should be paying refunds.We have a standard variable rate (SVR) that is significantly out of line with the rest of the market.
However to start with,I want to make it very clear that I don't believe that permanent tsb has performed to an acceptable standard in recent years.
As as a result of some of the banks decisions and actions, The Irish taxpayer has had to invest substantial funds when those funds could have been used much better elsewhere,Many of the banks customers have suffered financially because of the impact of decisions which should not have been taken.
I apologise for the mistakes which were made and I am determined to do all in my power to rectify them.
We have now commenced on a journey to do just that.That journey will take time and no doubt there will be frustrations along the way -for our customers and for ourselves.But I believe that we can look forward to the emergence of a new permanent tsb over the coming years:more focused and more humble for sure but also one that reconnects with its customers and enjoys their respect an their loyalty.
The letter seems to be the initiative of the new CEO Mr Jeremy Masding. I would like to think he would be a new broom and facilitate change within banking in Ireland.
[FONT="]However, [/FONT][FONT="]to start with, I want to make it [/FONT][FONT="]very [/FONT][FONT="]clear that I don't believe that permanent tsb has performed to an acceptable standard in recent years. [/FONT]
[FONT="]...But I believe that we can look forward to the emergence of a new permanent [/FONT]
[FONT="]tsb [/FONT][FONT="]over the coming years more focused and more humble but alos one which reconnects with its customers and enjoys their respect and their loyalty.[/FONT]
[FONT="]1. We will be competitive with our rates.[/FONT]
[FONT="]We [/FONT][FONT="]have [/FONT][FONT="]a Standard Variable Rate (SVR) that is significantly out of line with the rest of the market. [/FONT]
[FONT="]We are committed to doing all we can to rebuild your trust and to repay the loyalty you have shown us in the past few years.[/FONT]
[FONT="]Yours sincerely,[/FONT]
[FONT="]Jeremy Masding[/FONT]
[FONT="]CEO, permanent tsb[/FONT]
A Public Relations company commented that they were indeed using Oliver Wyman. So on top of all these consultants they employ a PR company to explain it.
Has anything changed?
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